Active
151 S Mountainview Ave
Los Angeles CA, 90057
$2,200,000
$336.60 per sqft
Active
10 Beds
10 Baths
6,536 sqft
Multi-family
Built in 1954
Amazing Current Cap Rate of 7.3% and 10 GRM with 43% upside to 11% Cap Rate and 7.2 GRM on proforma! Now offered with Higher Rents and 2 New Vacancies. Value-Add 10-unit building with 4 Fully renovated units with permits and 2 upcoming vacancies that can be renovated and leased for $2,407 per month (Previous rents were only $808). Priced at only $220k/door and $336/SF plus Fully Approved RTI plans to add 2 attached ADUs to improve the numbers to only 183k/unit, 10% Cap Rate, and 7.7 GRM on Current with upside to 14% Cap Rate and 5.8 GRM on Proforma after ADUs. All units are individually metered for Electricity and gas, and tenants pay for Trash. Rare 8 vacant single Car Garages for additional income and ADU potential. RTI plans to add 2 Attached ADUs in the garages will eliminate/reduce the soft-story scope of work and cost. Easy to rent unit mix consisting of 10 large (1 bed/1 bath) units. 4 units have been fully remodeled with permits and boast new modern cabinets, flooring, lighting, new bathrooms, and significant exterior improvements. This property is located in the historic Filipino Town just minutes away from Echo Park, Silverlake, DTLA as well as many hip neighborhood attractions, restaurants, bars, and shops such as Brooklyn Bagel Bakery, Boba Guys - Rideback Ranch, HiFi Kitchen, and Laveta Coffee, popping up all around the area.
24-463489
MLSⓇ ID
November 13, 2024
Listed
November 21, 2024
Updated
Map
151 S Mountainview Ave
Los Angeles CA, 90057
Interior Features
Total Stories
2
Bedrooms
10
Total Bathrooms
10
Appliances
Refrigerator
Floor Description
Laminate, Ceramic Tile
Fireplace
No
Cooling
Yes
Cooling Description
Ceiling Fan
Heating
Yes
Heating Description
Wall Electric
Exterior/Building Features
Lot Size
0.15 Acres
Other Property Details
Area Name
Downtown L.A.
Days on Market
8
Garage
No
Parking
Attached
Parking Total
8
View
No
County
Los Angeles
Pool
No
Zoning
LAC2
Listed by Armin Soleimani with Global Platinum Properties, Inc.
Listing Contact: 310-666-2246
Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Landon Pacific Real Estate shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
©2024 Combined L.A./Westside MLS. All rights reserved.
Data last updated 11/21/2024